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Company Registration No. NI612063 (Northern Ireland)
Clogher Valley Windows Limited Companies House accounts for the year ended 31 May 2023
Clogher Valley Windows Limited Companies House accounts Contents
Page
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Clogher Valley Windows Limited Company Information for the year ended 31 May 2023
Director
Kieron J Egerton
Company Number
NI612063 (Northern Ireland)
Registered Office
160 Corkhill Road Eskra Omagh Tyrone BT78 1UP N Ireland
Accountants
Allan Montgomery & Co 100 Main Street Fivemiletown Co Tyrone BT75 0PW
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Clogher Valley Windows Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
48,324 
60,398 
Current assets
Inventories
81,729 
34,560 
Debtors
126,634 
104,234 
Cash at bank and in hand
79,283 
113,289 
287,646 
252,083 
Creditors: amounts falling due within one year
(187,125)
(164,275)
Net current assets
100,521 
87,808 
Total assets less current liabilities
148,845 
148,206 
Provisions for liabilities
Deferred tax
(9,182)
(11,475)
Net assets
139,663 
136,731 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
139,563 
136,631 
Shareholders' funds
139,663 
136,731 
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 March 2024 and were signed on its behalf by
Kieron J Egerton Director Company Registration No. NI612063
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Clogher Valley Windows Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Clogher Valley Windows Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI612063. The registered office is 160 Corkhill Road, Eskra, Omagh, Tyrone, BT78 1UP, N Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention and Section 1A of Financial Reporting Standard 102 applicable to small entities.
Presentation currency
The accounts are presented in £ sterling.
Turnover and income recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Income is recognised when goods and services have been provided to customers such that risks and rewards of ownership have been transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill is amortised at 10% per annum on a straight line basis.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Clogher Valley Windows Limited Notes to the Accounts for the year ended 31 May 2023
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 June 2022
20,000 
At 31 May 2023
20,000 
Amortisation
At 1 June 2022
20,000 
At 31 May 2023
20,000 
Net book value
At 31 May 2023
- 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2022
34,910 
81,781 
116,691 
At 31 May 2023
34,910 
81,781 
116,691 
Depreciation
At 1 June 2022
25,419 
30,874 
56,293 
Charge for the year
1,897 
10,177 
12,074 
At 31 May 2023
27,316 
41,051 
68,367 
Net book value
At 31 May 2023
7,594 
40,730 
48,324 
At 31 May 2022
9,491 
50,907 
60,398 
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Clogher Valley Windows Limited Notes to the Accounts for the year ended 31 May 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
4,496 
11,431 
Trade debtors
67,913 
92,759 
Amounts due from group undertakings etc.
50,141 
- 
Other debtors
4,084 
44 
126,634 
104,234 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
30,565 
40,262 
Obligations under finance leases and hire purchase contracts
16,504 
22,328 
Trade creditors
128,988 
89,685 
Taxes and social security
2,982 
5,237 
Accruals
8,086 
6,763 
187,125 
164,275 
8
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
9,182 
11,475 
2023 
2022 
£ 
£ 
Provision at start of year
11,475 
10,276 
(Credited)/charged to the profit and loss account
(2,293)
1,199 
Provision at end of year
9,182 
11,475 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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